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Remittances rise to $2.98 billion in August
The Freeman
|October 17, 2025
Cash remittances from overseas Filipinos climbed by 3.2 percent to $2.98 billion in August, reflecting sustained inflows from both landand sea-based workers despite global economic headwinds, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
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The latest figure was higher than the $2.89 billion posted in August 2024, as remittances from land-based workers rose by three percent to $2.35 billion, while those from sea-based workers grew by 3.8 percent to $626 million.
On a cumulative basis, cash remittances amounted to $22.91 billion from January to August, up by 3.1 percent from $22.22 billion in the same period last year.
The United States remained the top source of remittances, followed by Singapore and Saudi Arabia. The BSP noted, however, that inflows attributed to the US also reflect funds coursed through correspondent banks located there.
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